What Does it Really Cost to Live in Brooklyn?

Apartment Therapy's Cost of Living Report

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Brooklyn was once an escape from Manhattan's sky-high real estate prices. Now, however, it's the second most expensive place to live in the nation. Some neighborhoods like Brooklyn Heights and DUMBO are even more expensive than across the East River.

Don't despair, though. There are still deals to be had. The Williamsburg boom has expanded northward to Greenpoint, where there is a burgeoning restaurant and bar scene, indicating a shift. Red Hook is another neighborhood that has long been overlooked due to its difficult access. But it's now experiencing growth with the push out from the ever-more-expensive neighborhoods to its north. Here, we've selected a cross section of neighborhoods for exploring housing: an old favorite (Park Slope), a new guy (Greenpoint), and a record-breakingly expensive 'hood under the equally notorious Brooklyn Bridge (DUMBO):

Essentials and Entertainment

Milk (half gallon): $2.12
Monthly MetroCard: $112.00
Gas: $3.95/gal
Movie ticket: $12
Restaurant dinner: $30.00
Beer (draft pint): $5.00
Cocktail: $12

Housing for Rent

Median Rents (One Bedroom):

Greenpoint: $ 2,600
Park Slope: $ 2,500
DUMBO: $ 3,650

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One Bedroom Examples

Greenpoint: 1 bed, 1 bath, 1,000 square feet, $2,700
Park Slope: 1 bed, 1 bath, 850 square feet, $2,850
DUMBO: 1 bed, 1 bath, 768 square feet, $3,925

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Two Bedroom Examples

Greenpoint: 2 bed, 1 bath, 1,000 square feet, $3,000
Park Slope: 2 bed, 1.5 bath, 1,100 square feet, $4,200
DUMBO: 2 bed, 2 bath, 1,285 square feet, $5,900

Housing for Sale

Median Price:
Greenpoint
: $ 564,000
Park Slope: $ 480,000
DUMBO: $ 855,000

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One Bedroom Examples

Greenpoint: 1 bed, 1 bath, 545 square feet, $490,000

Park Slope: 1 bed, 1 bath, 760 square feet $645,000
DUMBO: 1 bed, 1 bath, 912 square feet $999,000

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Two Bedroom Examples

Greenpoint: 2 bed, 2 bath, 1,070 square feet $749,000

Park Slope: 2 bed, 1 bath, 900 square feet $799,000
DUMBO: 2 bed, 2 bath, 1,223 square feet , $1,285,000

(Images: Regina Yunghans, Listings via StreetEasy)

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